DOW PLUMMETS 486 POINTS; WORST POST-ELECTION DAY PLUNGE EVER

Dow sinks 486 points on the day after the election of Obama. Investors ponder what an Obama presidency will bring. Hope?

Most not hopeful based on his comments concerning redistributing the wealth through tax policy. Then pondering his desire for more regulation, job growth provided by government (now there is an oxymoron) and his hostility to free trade, one must consider the possibility of Carter like economic stagflation – no growth and high inflation.

With the Democrats in control of all both houses of congress and the executive branch, we are in for one hell of a ride. Can anyone say European Socialism?